Founded in 2014 and located offshore, FirewoodFX is an online trading broker that offers forex, gold, and silver for trading online via the MetaTrader 4 platforms. The broker’s trading servers and infrastructure are hosted in the Equinix NY4 Datacenter, which is a state-of-the-art financial hub that is popular amongst online brokerages.
FirewoodFX has won several industry awards in honor of their excellent brokerage services. These include the ‘Best STP Broker’ 2019 at the European CEO awards, ‘Best Forex Trading Platform Asia’ 2019 by the International Business Magazine, and much more.
FirewoodFX Review Introduction
In this FirewoodFX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including FirewoodFX.
FirewoodFX Platforms & Tools
The broker provides traders with the MetaTrader 4 trading platform, which has over 50 built-in indicators and charting tools, multi-language interface, and ability to auto-trade your strategies using MQL4 expert advisors (EAs). The MetaTrader 4 trading platform is available in the following versions:
MetaTrader 4 Desktop Platform
Downloadable and installable application for Windows and Mac computers. It has the full features of the platform.
MetaTrader 4 Mobile Platform
This platform is compatible with iOS and Android devices and can be downloaded from respective app stores. It allows traders to enjoy the powerful functionality for trading Forex anytime and anywhere in the world.
MetaTrader 4 Web Platform
It features a history of trading operations, graphical objects, the full set of trading orders, 9 timeframes, and more. It gives traders access to trade forex from any browser and operating system (Windows, Mac, Linux) with no need to download and install any additional software.
MetaTrader 4 Multiterminal
It enables traders to manage multiple MetaTrader 4 accounts using a single terminal.
FirewoodFX Research & Education
The broker provides traders with some essential educational materials, such as forex market news and basic margin calculators and simple explanation of the forex market. There is also a forex glossary that includes some of the most common FX terminologies, along with detailed explanations of each.
FirewoodFX Trading Accounts
FirewoodFX offers a selection of different account types to cater to different traders’ needs. They include Micro, Standard, and Premium accounts. They also offer Copy trading accounts and PAMM service.
The broker has fixed spreads starting from 1pip for major FX currency pairs and charges no commission on trades. Leverage of up to 1:1000 is available, while the minimum trade size is 0.01 lots.
Demo accounts with $10,000 in virtual funds are also available for traders to get familiar with the trading platforms and also to practice their trading strategies.
FirewoodFX Account Funding
FirewoodFX has a variety of convenient methods for depositing and withdrawing funds from your trading account. They include bank wire, credit/debit cards, and online payment systems, such as Neteller, Skrill, PerfectMoney, OKPAY, FasaPay, and UnionPay. The transaction limits, fees, and processing time may vary with the payment method used.
FirewoodFX Customer Service
The broker provides customer support via online chat, telephone, and email.
FirewoodFX is a brand owned by Financial Global Ltd, which is a company registered in Saint Vincent and the Grenadines with registration number: 22160 IBC 2014. However, there is no regulatory information on the broker’s website.
FirewoodFX Review Summary
Overall, FirewoodFX is an offshore forex broker with a small range of tradable assets. They provide clients with the full spectrum of the user-friendly and powerful MetaTrader 4 platform, along with a variety of account types.
It is worth mentioning that some of the trading products and services in this FirewoodFX review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the FirewoodFX broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.